Egypt to Host New Electric Car Manufacturing Hub in Partnership With ChinaSource: www.export-egypt.com 10/28/2024, Location: Africa |
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Deputy Prime Minister for Industrial Development and Minister of Industry and Transport, Kamel Al-Wazir, oversaw the signing of an agreement between China's BAIC Company and Alkan Auto Company, part of the Egyptian International Automotive Group, to establish an electric car manufacturing plant in Egypt.
The factory, set on a 120,000-square-meter site, will begin production by late 2025, targeting both local market needs and exports to the Middle East and Africa. The project’s initial production goal is 20,000 cars in its first year, with plans to scale up to 50,000 units by year five. With a 48 percent local component, expected to increase to 58 percent, the initiative will create approximately 1,200 jobs. Minister Al-Wazir noted that this partnership supports President Abdel Fattah El-Sisi’s vision for Egypt as a regional industrial center and a leader in localized automotive production. He emphasized the ministry's commitment to fast-tracking project approvals, allocating industrial land, and bolstering Egypt’s position in the global automotive market, particularly |
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